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Company setup in SPC, Sharjah

State dutyloading

Terms days

This company can engage in the manufacture of rubber and plastic products. The activity can also include the production of rubber tires for various uses, inner tubes, interchangeable tire treads, and retreading materials, along with other rubber products such as brushes, pipe stems, combs, and items impregnated or coated with rubber, plastic products ranging from semi-manufactures to finished goods, including articles for packing, builders' plastics ware, kitchenware, toilet articles, and diverse other plastic items like signs and resilient floor coverings.

About the company's activities

Types of activities

The following group of business activity has been selected for the SPCFZ company setup:

Manufacture of rubber products (Group 221):

2210.00 - Manufacture of rubber products;
2211.00 - Manufacture of rubber tyres and tubes, retreading and rebuilding of rubber tyres;
2211.01 - Manufacture of rubber tyres for vehicles, equipment, mobile machinery, aircraft, toy, furniture and other uses;
2211.02 - Manufacture of inner tubes for tyres;
2211.03 - Manufacture of interchangeable tyre treads, tyre flaps, “camelback” strips for retread- ing tyres etc.;
2219.00 - Manufacture of other rubber products;
2219.01 - Manufacture of other products of natural or synthetic: hardened or ized-vulcan, unvulcanized, rubber;
2219.02 - Manufacture of rubber brushes;
2219.03 - Manufacture of hard rubber pipe stems;
2219.04 - Manufacture of hard rubber combs, hair pins, hair similar and rollers;
2219.05 - Manufacture of rubber repair materials;
2219.06 - Manufacture of textile fabric impregnated, coated, covered or laminated with rubber, where rubber is the chief constituent;
2219.07 - Manufacture of rubber waterbed mattresses;
2219.08 - Manufacture of rubber bathing caps and aprons;
2219.09 - Manufacture of rubber wet suits and diving suits;
2020.00 - Manufacture of plastics products;
2220.01 - Manufacture of semi-manufactures of plastic products;
2220.02 - Manufacture of finished plastic products;
2220.03 - Manufacture of plastic articles for the packing of goods;
2220.04 - Manufacture of builders’ plastics ware;
2220.05 - Manufacture of plastic tableware, kitchenware and toilet articles;
2220.06 - Cellophane film or sheet;
2220.07 - Manufacture of resilient floor coverings, such as vinyl, etc linoleum;
2220.08 - Manufacture of artificial stone (e.g. cultured marble);
2220.09 - Manufacture of plastic signs (non-electrical);
2220.10 - Manufacture of diverse plastic products.

The company can engage in up to five business activities under one license without additional fees.

Additional External Regulator Approvals

No additional approvals are required to register a company conducting this business activity.

Share Capital Requirements

The minimum share capital required for SPC company is AED 50,000. Its contribution is optional. If the share capital exceeds 5,000,000.00 AED, its contribution becomes mandatory.

Company name requirments

Must not violate the country laws or contain words that are obscene, indecent or generally offensive
Must not contain the names of Allah, Buddha or God, or any other religious terminology
Must not infringe any third party's intellectual property rights
Must not be identical or similar to local/global brands or registered trademarks
Must not contain geographical names, such as the names of emirates, cities, countries and other landmarks
Must not contain the names of local/international religious, political or governmental organizations
Must correspond to the company’s business activities

Bank Account

Entrepreneurs can open corporate accounts in traditional banks with physical branches, as well as in digital banks and payment systems.

When choosing a bank to open a corporate account, consider the following: service level, fees, available currencies, online banking performance, bank reputation, as well as other conditions that may be important for your business.

Successfully opening a corporate bank account requires a well-prepared documentation package, which may vary depending on the specific requirements of each bank. Documents submitted incorrectly or incompletely may negatively affect the bank's final decision in processing the application.

About Jurisdiction

Name and Description

Title: Sharjah Publishing City Free Zone
Description:
SPCFZ (Sharjah Publishing City Free Zone) is a free economic zone (free zone) established in 2017 in the Emirate of Sharjah, UAE. It is the world’s first free zone fully dedicated to the publishing industry.

SPCFZ offers a unique ecosystem for publishers, writers, and creative professionals, providing ideal conditions for the implementation of cultural and creative projects. With advanced technologies and infrastructure, the free zone attracts talent and companies looking to develop projects in the fields of culture, media, and the arts. Companies registered in SPCFZ are permitted to conduct business within the free zone and beyond the UAE.

SPCFZ issues the following types of business licenses:
- Standard (wholesale and retail trade, services, manufacturing)
- E-commerce
- Publishing
- E-Publishing.
With a simplified registration process, flexible business conditions, and reduced operating costs, SPCFZ enables entrepreneurs to successfully enter both local and international markets, while effectively expanding their operations.

Tax regime and income management

The UAE has several taxes and fees that regulate the financial activities of both legal entities and individuals. Below are the main ones.
1. Value Added Tax (VAT)
  - Since January 1, 2018, the UAE has implemented a VAT rate of 5%, which applies to most goods and services and is charged to companies operating within the country, except for those registered in designated zones.
  - A Designated Zone is a territory within a free zone that is treated as outside the UAE for tax purposes, allowing goods to be exempt from taxation, provided certain criteria are met. The main taxation rules in Designated Zones are as follows:
  - For local companies and those registered in Non-Designated Zones (free zones not included in the Designated Zones list), the standard tax rules set forth in the Federal Decree-Law on VAT apply.
2. Corporate Tax
  - As of June 1, 2023, the UAE has introduced a corporate tax at a rate of 9%, levied on the taxable net profit of companies with income exceeding AED 375,000.
  - A 0% rate is applied to taxable income not exceeding AED 375,000.
  - Charitable, non-profit organizations and medical institutions are fully exempt from corporate tax.
3. Excise Tax
  - Since October 1, 2017, the UAE has introduced an excise tax aimed at reducing the consumption of harmful products and funding healthcare initiatives. The tax applies to alcohol, tobacco products, and beverages containing added sugar, including energy drinks and carbonated beverages.Excise tax rates vary depending on the product category:
  - Companies dealing with excise goods must register with the Federal Tax Authority (FTA), submit monthly declarations, and maintain records. Excise tax is paid upon the import, production, or release of goods for consumption in the UAE.
4. Customs Duties
  - Custom duties in the UAE are applied to most imported goods at a standard rate of 5% of the cost, insurance, and freight (CIF). Exceptions include certain categories of goods, such as medicines and food products, which may be exempt from duties or subject to a reduced rate.
  - Goods imported into UAE free zones are generally not subject to customs duties as long as they remain within these zones. However, when such goods are transferred to the UAE mainland, standard duties apply.
5. Personal Income Tax
  - In the UAE, personal income is not subject to taxation.
  - UAE citizens and residents are exempt from paying taxes on their personal income, including salaries, interest, dividends, inheritances, gifts, luxury goods, and capital gains.
6. Local Taxes and Fees
  - Individual emirates may impose specific local taxes and fees in line with their economic and social needs. These taxes and fees are aimed at supporting public services and implementing infrastructure projects.

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